Client Reviews Testimonials | Jason Wheeler Bay Area Mortgage | Refinancing Services
November 25, 2009
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At the height of the mortgage industry meltdown in the fall of 08, we used Jason to not only get us the best deal (he did!), but to help rush our paperwork through the channels. Jason and his team went way beyond 5-star service! He even drove to my house in San Jose in the middle of the night to ensure our docs were in on time. His knowledge and his service are great! I’ve already recommended him to all my friends and told them whether you’re buying or refinancing, you need a professional’s help, so call Jason.
Larry Seiden, San Jose CA
Until Next time Here is to your success! Jason Wheeler 925-285-2172
Weekly Wrap-Up | Bay Area Real Estate Financing Programs and News
November 20, 2009
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“The Weekly Wrap Up”
Presented by Jason Wheeler
Okay so you have been getting these from me for a while now and I REALLY appreciate your continued support and reading! If you have been finding value in the nuggets I send each week I would truly appreciate if you would forward the info to any colleagues or clients that may find it useful!
Check out the newest and hottest loan programs and let me know if you would like to see if you fit into any of them. We were locking rates in this week at around 4.75% on a 30 Year Fixed with no points this week!
Hot Mortgage Programs at a Snapshot
- 95% Conventional Loans are Back in California!
- Contra Costa Mortgage Credit Certificates. Get up to 20% tax credits on interest paid on your mortgage throughout the year!
- 100% Financing with VA Loans!
- Government Programs up to 97% Financing. with $8,000 in Tax Credits for First time buyers and starting in 2010 $6,500 for 2nd home and investment properties.
- FHA HUD Financing Incentive. $100 down payment gets you in a home!
- Fannie Mae Freddie Mac Refinance Plus! HARP Refinance your home up to 125% of the value.
- Concord CA Affordable Housing and First Time Home Buyer down payment assistance up to $40,000!
- No Appraisal Required on Home Path Loans. Fannie Mae REO properties
Here we are wrapping up Friday 11/20/2009 rates have dipped a bit lower and have been relatively flat for the past few days with the trend pointing even lower for during next week. You can look at weekly rate trends Here.
Two Real Estate Investor Events This Week!
Investor Forum in Bay Area CA RSVP Here!
Join us and learn from a ton of Real Estate Entrepreneurs and Investors that are helping people like you create massive wealth in Real Estate TODAY!!. This will be a packed event where you will learn nuts and bolts Real Estate Investment knowledge to take advantage of what is happening in the market RIGHT NOW!
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Until Next time Here is to your success! Jason Wheeler 925-285-2172
95% LTV Conventional Mortgage Programs are Back | Home Possible and My Community Mortgage
November 20, 2009
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95% LTV is back on Agency Conventional Loans
Borrowers may now get 95% LTV if they meet the following criteria:
- 95% Purchase and Rate/Term refinances
- Specific Affordable Products only (see below)
- Borrower does not have to be a First Time Homebuyer to qualify. However , First Time Home Buyer’s must complete training course.
- 680 Minimum Score Requirement
- 1 unit property only (SFR and PUDs. Condos maxed at 90% LTV)
- 2 months. reserves required regardless of AUS findings
- 3% down payment and reserves must be borrower’s own
- Borrowers can only own 1 property (No 2nd homes or rentals)
- Full appraisal required regardless of AUS findings
- 3% Seller Concessions maximum allowed
- Counseling only required for First Time Home Buyers
- Income limitation waived on MyCommunity program if property is located in a Fannie Neighborhood
- Mortgage insurance must be ordered through Genworth (GE)
- These Genworth overlays apply to product guidelines
- Now available in CA, FL, NV, and AZ
- Standard Conforming Fixed is not eligible. Must fit into one of the below programs
Available Programs:
• Freddie’s Home Possible Doc #5335 (Fixed Rate only)
• FNMA MyCommunity Doc #5325 (Fixed Rate, 5 yr ARM and 7 yr ARMAdditional benefits (see product descriptions for full details):
• Reduced MI coverage available (16% MI coverage). This is a great selling tool against FHA! MI is reduced and unlike FHA, the MI may be removed after 2 years if home has appreciated in value. Borrowers completing GE’s Counseling Saver Program may receive additional rate discount
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Until Next time Here is to your success! Jason Wheeler 925-285-2172
Concord CA 3 Day Wealth Summit | Bay Area Real Estate Investment Workshop
November 17, 2009
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Weekly Wrap-Up | CA Bay Area Mortgage Loans | Real Estate Investor Meetings
November 13, 2009
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“The Weekly Wrap Up”
Presented by Jason Wheeler
Check out the Hot new programs below and up coming Real Estate Investor meetings. Big news this week is that Fannie Mae is positioning itself to become the biggest landlord in the USA! Is this good or just another government takeover? Read about the Fannie Mae Leaseback Program here!
Also check out this article I wrote about Why Everyone should Take Action NOW and get involved with Real Estate. Please check it out and comment as necessary. If you find any value in the information I’m bringing you you can add me on Twitter or Facebook to stay in touch. See the links at the bottom of this message.
Hot Mortgage Programs at a Snapshot
- Contra Costa Mortgage Credit Certificates. Get up to 20% tax credits on interest paid on your mortgage throughout the year!
- 100% Financing with VA Loans!
- Government Programs up to 97% Financing. with $8,000 in Tax Credits for First time buyers and starting in 2010 $6,500 for 2nd home and investment properties.
- FHA HUD Financing Incentive. $100 down payment gets you in a home!
- Fannie Mae Freddie Mac Refinance Plus! HARP Refinance your home up to 125% of the value.
- Concord CA Affordable Housing and First Time Home Buyer down payment assistance up to $40,000!
- No Appraisal Required on Home Path Loans. Fannie Mae REO properties
Here we are wrapping up Friday 11/13/2009 rates have be relatively flat for the past few weeks with the trend pointing flat for next week. You can look at weekly rate trends Here.
Real Estate Investor Events!
Investor Forum in Bay Area CA RSVP Here!
Join us and learn from a ton of Real Estate Entrepreneurs and Investors that are helping people like you create massive wealth in Real Estate TODAY!!. This will be a packed event where you will learn nuts and bolts Real Estate Investment knowledge to take advantage of what is happening in the market RIGHT NOW!
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REAL ESTATE INVESTOR FORUMS SHOWING HOW MANY IN THE BAY AREA ARE MAKING A SIGNIFICANT INCOME IN REAL ESTATE INVESTMENTS AND BUSINESS! AT THIS EVENT YOU WILL MEET MANY SUCCESSFUL INVESTORS AND SEE ACTUAL REAL ESTATE DEALS THAT YEILD A LEGITIMATE FIVE FIGURE PROFIT. CALL NOW 925-285-2172 This is your opportunity to learn from pros that are making local deals. If you would like to get started and work with a team of professional real estate investors you absolutely deserve to receive the information that we will be sharing this evening!
*This will be a powerful overview of our Real Estate Investment strategies and we will be showing you actual deals that are happening in the Bay Area. We are exploding and looking for sharp people that deserve a better life. Come and learn how to create massive success with Real Estate Investing! Business attire is strongly suggested. Arrive early to network 6:30-7 with entrepreneurs and investors of the community. |
Connect with Jason Online! | Subscribe Via RSS Feed
Until Next time Here is to your success! Jason Wheeler 925-285-2172
Until Next time Here is to your success! Jason Wheeler 925-285-2172 | Come to a FREE Bay Area Event |
Failures Are Stepping Stones to Success | Are You Quiting Five Feet From Gold?
November 12, 2009
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This is a great video to spend a minute on especially if you are feeling frustrated or discouraged with whatever you are working on. So many ask me how I got where I am and tell me I’m lucky to have found success. Anyone that has ever seen any success knows that it is not luck but consistent practice and persistence over time. You must fail! Sometimes countless times before you ever really start seeing rewards. The key is staying in the game long enough to start seeing those rewards. Don’t quit three feet away from gold.
If you’ve never failed then you will never ever see success! However in Real Estate a mistake can sometimes cost you hundreds of thousands of dollars. Avoid making mistakes in your Foreclosure and REO Investing. Learn from pros that have done it right!
Until Next time Here is to your success! Jason Wheeler 925-285-2172 | Come to a FREE Bay Area Event |
Taking Action Today | Why Invest in the California Real Estate Foreclosure Market |
November 11, 2009
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People ask me all the time why should I get involved in Real Estate in today’s market? More important HOW can I make money in today’s market? It always surprises me and honestly makes me laugh a bit how so many people have a negative view of Real Estate because of what the media news and the guy next door says. Yes foreclosures and everywhere and there a lot of people that made bad decisions with financing. Five years ago there were so many different loan programs and many consumers did not understand or were not disclosed properly on the loans they were getting into. On the other side of that coin there are tons of opportunities with Foreclosures, REO (Bank Owed Properties) and Auctions. Since 2003 I have help hundreds of people own Real Estate and since 2007 I’ve worked with and Mentored with some of the most successful Real Estate Investors in the CA Bay area from San Jose to Sacramento. Below are a few of the key concepts that I have learned from several mentors over the years..
- Do What the Wealthy Do - If you look at last years Forbes 400 richest people in the world you will find that ALL of them hold much of their investments and holdings in Real Estate. The last time I read an article on a millionaire they never got there by work at an office or serving tables in a nice restaurant. Don’t get me wrong as I spent 10 years in the service industry working for someone else and it could be a great way to make those monthly bills, but very few really get ahead working for someone else. Look at this chart from the Department of Health and Human Services.
These statistics have been roughly the same for since they started keeping track!. Why is it that so few people really create success? The reason is simple… most just aren’t willing to create the habits to make it work. The fact is you MUST build a business or a pipeline. If you would like some ideas on how you can create capital quickly we can show you a few different options.
- Real Estate Is On Sale Like Never Before - We are lucky to be living in a time where Real Estate is truly on sale. Banks are willing to take some serious discounts on properties if you are willing to simply learn how to present an offer that looks attractive and mutually beneficial. If you are skeptical that Real Estate values will return just ask yourself how much your parents bought their home for 20 to 30 years ago. My parents bought a 5 bedroom home in Pleasant Hill CA in the early 70s for $72,000! Today at the bottom of the market Their home appraises for $700,000! At the bottom of the market! Would you say that is a pretty good gain? The fact is that history will repeat and values will return. Warren Buffet says that when the masses are greedy time to run. When the masses run time to get greedy. So wouldn’t you say just about everyone is running scared right now? This is a great time to build your portfolio. Simple question. If you could have bought 20 homes 20 years ago would you be better off today? The real question is what will you ask yourself 20 years from today?
- Money Is One Sale Like Never Before - It’s no secret that interest rates are being held artificially low by the FED. In fact right now money is cheaper to leverage than it has EVER been at anytime in our history. So what does this mean? Money is cheap and Real Estate is on sale!
This chart shows the relationship and trend between the FED reserve prime rate and the average 30 year fixed mortgage from 1971 to 2009. As you can plainly see money is cheaper than ever before. Why not take advantage of the low prices and cheap money. So what? You don’t know how! Why don’t you learn? We can show you how to get started if you are willing to be trainable and work.
- Opportunities Are Everywhere - Finally look at the rate of foreclosures in the United States! It is no secret that foreclosures are everywhere! The problem
is the way the media plays it out, it would seem it is the end of the world! Sure there are a lot of people that got in over their head in the years before this recession however there a just a few out there that really see this as an opportunity. Why not YOU? If we could show you how to find a lucrative foreclosure deal and create a five figure profit over the course of 90 days, without using your own money or credit would you want to learn how?
- Recession Breeds Millionaires - Now you are out of excuses. What are you waiting for? History shows that every recession creates more wealth and millionaires than any other time. Why is that? Because a recession forces many people get out of their comfort zone, get creative and innovative. Innovation is what breeds millionaires and innovation is what has made the American Dream.
So if you are tired of trading time for dollars in your job, or if you have a great job but don’t see it leading you to the lifestyle that you dream don’t hesitate to get in touch with me and just ask me how I can help you get started. That’s right GET STARTED!! If you don’t get started with something, you will soon look back and see that life has completely passed you buy. Whatever you do don’t let lack of knowledge or money stop you. Most of all don’t let FEAR stop you! Desire will drive you to where you want to be. I spent 10 years serving tables and tending bar in order to pay the bills I never would have thought that I would have gone the direction I went seven years ago, some of the decisions I made during that time in my life have lead me here and those decisions were some of the best and most important in my life. Make a decision and take action now!
Until Next time Here is to your success! Jason Wheeler 925-285-2172 | Come to a FREE Event |
Fannie Mae Allows Defaluter’s to Rent vs Foreclose - 11.10.09
November 10, 2009
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Fannie Mae and Freddie Mac are asking the Federal Government for another $15 Billion dollars in bailout money because of defaults and foreclosures! To add to the Federal control Fannie Mae is rolling out a new program to lease back foreclosed homes and let tenants rent. Fannie Mae is to become the Biggest Federal Landlord in the Country! Watch this Video for More Details! The program is band new and was just announced last Thursday. Fannie Mae will become a land lord on a national scale! They will be leasing back the propeties to clients for one year with a month to month lease option thereafter.
How do you feel about this program? Your comments are welcome.
Until Next time Here is to your success! Jason Wheeler 925-285-2172 | Come to a FREE Bay Area Event |
What!?! $100 Down Payment Gets you Into a Bank Owned Home in the Bay Area?
November 9, 2009
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What?!? Did you just say that just $100 down payment can get you into a home. What kind of program is the FHA and HUD sales Incentive Program anyway? Because of the foreclosure wave and FHA continuing to struggle and the possibility of more government stimulus being pumped into the FHA they must get those darn bank owned homes off their boos so they can do what they are meant to. LEND and make homes affordable!!
So what are the incentives and advantages of the the FHA and HUD Sales Incentive?
- 110% Loan to Value is allowed in most counties
- $100 down payment when you use FHA financing
- $5000 sales credit allowed from FHA for repairs at closing using FHA
- 3% HUD allowed for closing cost assistance.
So with all these awesome benefits how the heck to I qualify. Well only HUD owned homes can use this program. You can find a HUD Owned Home Here and only owners who intend to occupy the home are eligible. If you would like to see if you or a friend qualify all you have to do is call us and we can get you qualified in 10 minutes.
Until Next time Here is to your success! Jason Wheeler 925-285-2172 | Come to a FREE Bay Area Event |
Up to $60,000 Down Payment Assistance In Greater Sacramento | Roseville CA Down Payment Assistance
November 6, 2009
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First Time Home Buyer Down Payment Assistance Program (FTHB) is designed to promote home ownership for low income, first time home buyers. Down payment assistance is in the form of a deferred loan (second mortgage), not due and payable until sale or transfer of property.
Maximum assistance will be in the amount of $60,000.
Income: Eligible participants must have annual incomes at or below 80 percent of the median income for the Sacramento area adjusted for family size. 2009 annual income limits (effective 3/19/09) are listed in the table below:
| 1 person |
2 persons |
3 persons |
4 persons |
5 persons |
6 persons |
7 persons |
8 persons |
|
$40,800 |
$46,600 |
$52,450 |
$58,250 |
$62,900 |
$67,550 |
$72,250 |
$76,900 |
First Time Home Buyer
Eligible participants (both applicant and co-applicant) must meet one of the definitions of a first time Home Buyer as described below:
1. Applicant(s) shall not have owned a home, except a mobile home not affixed to a permanent foundation, during the three years prior to applying for assistance under the City’s Down Payment Assistance Program; or
2. A displaced homemaker who, while a homemaker, owned a home with his or her spouse or resided in a home owned by the spouse.A displaced homemaker is an adult who has not, within the preceding 2 years, worked on a full-time basis as a member of the labor force for a consecutive twelve-month period and who has been unemployed or under-employed, experienced difficulty in obtaining or upgrading employment and worked primarily without remuneration to care for his or her home and family; or
3. A single parent who, while married, owned a home with his or her spouse or resided in a home owned by the spouse.A single parent is an individual who is unmarried or legally separated from a spouse and has one or more minor children for whom the individual has custody or joint custody or is pregnant; or
4. An individual or individuals who owns or owned, as a principal residence during the 3-year period before the purchase of a home with HOME assistance, a dwelling unit whose structure is: not permanently affixed to a permanent foundation in accordance with local or state regulations; or not in compliance with state, local, or model building codes and cannot
Applicant Priority
Eligible participants who have lived or worked in the City of Roseville for a minimum of one year prior to applying for assistance under this Program will receive first priority for assistance.
1. Provide minimum of a 1% down payment, the source of which cannot be a loan.
2. Prior to being accepted as a program participant (but not required prior to application for the program), provide Sacramento Home Loan Counseling Center’s Home Buyer’s Seminar certificate of completion for all three classes (Home Buying Process, Budgeting, Home Maintenance/Good Neighbor), for a total of 8 hours of class training.For additional information contact the Home Loan Counseling Center at 916-646-2002, visit their website for current class schedules www.hlcc.net or contact the City’s Housing Division office at 916-774-5270.
The home selected must be located within the City limits of Roseville.The home must be owner-occupied or a vacant unit.For sale rental property occupied by a current tenant is not eligible for the Down Payment Assistance Program, unless the current tenant will also be the home purchaser.
Type and Condition of Home
Single-family dwellings, condominiums, half-plexes, and manufactured homes are eligible for purchase under the Program.Any dwelling purchased with assistance under this Program must be on a permanent foundation and must be of appropriate size and number of bedrooms for the number of persons in the purchaser’s household.
The City will inspect the dwelling for compliance with Housing Quality Standards (basic health and safety requirements).Any violation of these standards must be corrected prior to City’s final approval of down payment assistance for the unit. (NOTE:Exceptions can be made if homebuyer is using 203(k) financing, for the first mortgage. 203(k) is a federally funded program which allows the homebuyer to finance both a mortgage and a rehabilitation loan into one primary loan.)
Purchase Price
The purchase price of the house cannot exceed $441,750, which is 95% of the median purchase price for the City of Roseville. The individual participant’s maximum purchase price will be calculated based on the maximum first mortgage amount and City assistance (City assistance will be based on purchaser’s need and available housing stock for sale).
The City’s 0% loan is a deferred, shared appreciation loan, 30-year loan, secured by a promissory note and deed of trust. No payments are required as long as the home remains the primary residence of the qualified low income, first time home buyer. The loan for the first mortgage must be a 30-year fixed term loan. No temporary interest rate buy downs will be permitted.
Recapture of Investment
Shared Appreciation: The City will share a portion of the net profit the purchaser would make in subsequent sales, based on the original 2nd mortgage value divided by the market value of the home. The note will be due and payable upon sale of the property, change of use, unapproved refinance or change of ownership.
The City of Roseville’s Housing staff will monitor annually to insure the home has remained the program participant’s primary residence. This monitoring may require contacting the homeowner annually.
Fill out an interest form (see below). When we have received your interest form you will receive an application packet. You will need to provide a prequalification letter of your loan eligibility with your completed application.
Once we have received your completed application and prequalification letter, your name will be placed on a waiting list.
Until Next time Here is to your success! Jason Wheeler 925-285-2172 | Come to a FREE Bay Area Event |
This Content was originally published on the City Of Roseville CA City Website
